Residual Value - The estimated amount to be received when an asset is sold or scrapped, Useful Life - The period of time the business expects to keep and use the asset, Capitalised - Recording an item as a non-current asset in the Statement of Financial Position, Depletion - The loss in value of resources like mines or oil wells as they are extracted, Warranty - Insurance that pays for repairs or parts if there is a problem with an asset,

Lesson 35 - Depreciation concepts and methods

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